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enAadhar Housing Finance Limited NCD Issue to open on September 14, 2018http://thepurenews.com/n/aadhar-housing-finance-limited-ncd-issue-open-september-14-2018
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>Attractive interest rate of up to 9.75% per annum*</p>
<p>Ratings - ‘CARE AA+ (SO) (Pronounced as CARE Double A Plus Structured Obligation); Outlook: Stable and ‘BWR AA+ (SO) (Pronounced as BWR Double A Plus (Structured Obligation)), Outlook: Stable by Brickwork Ratings India Private Limited (“Brickwork”) </p>
<p>Minimum application size Rs. 10,000 collectively across all Options ranging from 3 to 10 years</p>
<p>Allotment on first-come, first-served basis</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Mumbai, September 10, 2018: Aadhar Housing Finance Limited (the “Company”), a deposit taking housing finance company registered with the NHB and focused on providing affordable housing financing products for the EWS and LIG segment in India, in tier 2 to tier 4 cities and towns, proposes to open public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of face value of Rs. 1,000 on September 14, 2018, 1,40,00,000 for an amount of Rs. 50,000 lakhs (“Base Issue Size”) with an option to retain oversubscription up to Rs. 90,000 lakhs aggregating up to Rs. 1,40,000 lakhs (“Tranche 1 Issue Limit”) (“Tranche 1 Issue”). </p>
<p>The Issue is scheduled to close on September 28, 2018 with an option of early closure or extension as decided by the Board of Directors of the Company (“Board”) or the Working Committee. </p>
<p>Ratings by CARE Ratings &amp; Brickwork Ratings India: Outlook: Stable<br />
The NCDs proposed to be issued under this Issue have been rated ‘CARE AA+ (SO) ((Pronounced as CARE Double A Plus Structured Obligation); Outlook: Stable)’ for an amount of `3,00,000 lakhs, by CARE Ratings Limited (“CARE”) and ‘BWR AA+ (SO) (Pronounced as BWR Doub le A Plus (Structured Obligation)), Outlook: Stable (for an amount of `3,00,000 lakhs, by Brickwork Ratings India Private Limited (“Brickwork”) The rating of CARE AA+ (SO); Outlook: Stable by CARE and BWR AA+ (SO), Outlook: Stable by Brickwork indicate that instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk. </p>
<p>Allotment is on a first-come-first-serve basis. </p>
<p>Issue Structure:<br />
Tenure 3 years (Category I, II, III and IV)<br />
Series I: Frequency of Interest Payment “NA”. Coupon Rate: “NA”. Effective Yield: 9.60%.<br />
Series II: Frequency of Interest Payment Annual. Coupon Rate: 9.60%. Effective Yield: 9.59%.</p>
<p>Tenure 5 years (Category I, II, III and IV)<br />
Series III: Frequency of Interest Payment Monthly. Coupon Rate: 9.25%. Effective Yield: 9.65%.<br />
Series IV: Frequency of Interest Payment Annual. Coupon Rate: 9.65%. Effective Yield: 9.64%.</p>
<p>Tenure 10 years (Category I, II, III and IV)<br />
Series V: Frequency of Interest Payment Monthly. Coupon Rate: 9.35%. Effective Yield: 9.75%.<br />
Series VI: Frequency of Interest Payment Annual. Coupon Rate: 9.75%. Effective Yield: 9.74%.</p>
</div></div></div><div class="field field-name-field-body-2 field-type-text-long field-label-above"><div class="field-label">paragraph 3:&nbsp;</div><div class="field-items"><div class="field-item even"><p>[Category IV] Investors (Retail Individual Investors) are defined as Resident Indian Individuals and Hindu Undivided Families through the Karta applying for an amount aggregating up to and including Rs. 10,00,000 across all options of NCDs in the Tranche I Issue.</p>
<p>At least 75% of the net proceeds of the Public Issue of NCDs will be used for the For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company. A maximum of up to 25% will be used for general corporate purposes.</p>
<p>The NCDs offered through the Shelf Prospectus and the Tranche I Prospectus are proposed to be listed on BSE Limited (“BSE”). BSE Is the Designated Stock Exchange.</p>
<p>The Lead Managers to the Issue are YES Securities (India) Limited, Edelweiss Financial Services Limited, YES Bank Limited, Axis Bank Limited, A. K. Capital Services Limited, Green Bridge Capital Advisory Private Limited and Trust Investment Advisors Private Limited.</p>
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</ul>Wed, 12 Sep 2018 16:04:57 +0000chandu179 at http://thepurenews.comhttp://thepurenews.com/n/aadhar-housing-finance-limited-ncd-issue-open-september-14-2018#commentsInditrade begins Micro Finance operations in Karnatakahttp://thepurenews.com/n/inditrade-begins-micro-finance-operations-karnataka
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>First branch opened in Bellary district</p>
<p>· Expect loan disbursal of appprox INR 80 crore in Karnataka in FY 2019</p>
<p>· 14 more branches to come up before the end of year</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Bengaluru, September 06, 2018: Inditrade (erstwhile JRG) (BSE: 532745), a leading player in the agri-commodity financing and micro finance business, today launched its Micro Finance operations in the southern state of Karnataka (through its wholly-owned subsidiary Inditrade Microfinance Ltd.).</p>
<p>The announcement was made by Mr. Sudip Bandyopadhyay, Group Chairman of Inditrade (JRG) Group of Companies.</p>
<p>“We strongly believe that Karnataka has enormous potential for growth of small women entrepreneurs with its focus on industrialization, which requires ancillary and peripheral services. As a focused micro finance player, we are well equipped to provide service in an effective and efficient manner in Karnataka” said Mr. Bandyopadhyay.</p>
</div></div></div><div class="field field-name-field-body-2 field-type-text-long field-label-above"><div class="field-label">paragraph 3:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Inditrade Microfinance has started operations in Karnataka with its first branch in Bellary district. It plans to open another 14 branches by the end of this year in two more districts.</p>
<p>Karnataka tops the list of states disbursing micro finance with INR 7,903 crore in fiscal 2018 as per the Inclusix 2018 by Crisil. Karnataka was also the top state in terms of loan amount disbursed at INR 2,219 crore in Q1 FY 2018-19 as per the MFIN Micrometer. </p>
<p>Supporting the vision of the Government on Digital India, the company has also launched a completely digitized process. Elaborating further on this, Mr. Bandyopadhyay said, “Easy and quick access are the cornerstones for the success of any micro finance initiative. With the country already moving towards becoming a digitized economy, we plan to leverage technology in fulfilling our aim of reaching our customers and catering to their requirement for finance in the most effective &amp; convenient manner.”</p>
<p>This is the first time in the industry that a completely digitized loan disbursement and collection process will be implemented including client prospecting, eKYC, tracking GPS locations, credit check, decision to disburse loan, money transfer to bank accounts.</p>
<p>Mr. Bandyopadhyay further pointed out that the demand for credit in the unorganized sector in the country is higher compared to the supply. The company plans to create a loan book of approximately INR 500 crore by the end of the current fiscal with approximately INR 80 crore coming from Karnataka.</p>
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</ul>Thu, 06 Sep 2018 07:54:34 +0000chandu175 at http://thepurenews.comhttp://thepurenews.com/n/inditrade-begins-micro-finance-operations-karnataka#commentsCigna TTK Health Insurance Appoints Prasun Sikdar as Managing Director and Chief Executive Officerhttp://thepurenews.com/n/cigna-ttk-health-insurance-appoints-prasun-sikdar-managing-director-and-chief-executive-officer
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>MUMBAI – June 27, 2018: Cigna’s (NYSE:CI) India business, Cigna TTK Health Insurance, a joint venture between U.S.-based global health services company, Cigna Corporation and Indian conglomerate TTK Group, today announced the appointment of Mr. Prasun Sikdar as its new MD and Chief Executive Officer following regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI). He succeeds Mr. Sandeep Patel, former MD and Chief Executive Officer, who will take over as Chief Strategy and JV Officer for Cigna and will serve as Director on the Cigna TTK Health Insurance Board.</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Prasun will be responsible for building upon the company’s already strong position in India. He will continue to focus on delivering innovative products and services to the company’s growing customer base. With his deep experience in partnerships, he will also be working with the leadership team to further expand the company’s distribution channels, while enhancing the brand and creating long-term value for the organization and its customers.</p>
<p>Mr. Jason Sadler, President, International Markets, Cigna said: “We are delighted to have appointed Prasun as we continue to grow at a fast pace across India and deliver products and services to improve the health, well-being and sense of security of our customers. I am confident that his passion for innovation, as well as his rich and diverse experience, will add immense value and strengthen our market position in India.”</p>
</div></div></div><div class="field field-name-field-body-2 field-type-text-long field-label-above"><div class="field-label">paragraph 3:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Prasun brings more than 22 years of leadership experience in financial services and deep insurance knowledge to Cigna TTK. Before joining Cigna TTK, Prasun was Group President and Global Head at Yes Bank, where he managed and grew key bancassurance and mutual fund alliances and partnerships. Prior to this he was a founding member and Senior General Manager – Chief Sales &amp; Distribution at ICICI Prudential Life Insurance. During his 17 years with ICICI Prudential Life Insurance, he worked across several portfolios including Operations &amp; Underwriting, Bancassurance, Agency, Alternate Distribution, Health Business and Sales Strategy. Before ICICI Prudential Life, he has been associated with GE Capital (SBI Cards) and Citicorp.</p>
<p>Cigna TTK is one the fastest growing health insurance companies in India and has created a niche in the health and wellness sector by offering its customers innovative products and services. Since commencing operations in 2014, the company has established a significant presence in the market and has fostered new partnerships with leading financial institutions. In 2018, Cigna TTK was recognized as the Best Health Insurance Company at the Indian Insurance Summit and was certified as a ‘Great Place to Work’.</p>
<p>Commenting on his appointment, Prasun said: “I am honoured to become part of the Cigna TTK family and am excited to have the opportunity to lead this respected organization. Health Insurance continues to be a fast-growing segment and I see tremendous opportunity for Cigna TTK to support access to health and wellness. I look forward to building a superior customer experience, delivering profitable growth for the organization and enabling the expansion of quality healthcare to millions of people in India.”</p>
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</ul>Thu, 28 Jun 2018 06:35:28 +0000chandu149 at http://thepurenews.comhttp://thepurenews.com/n/cigna-ttk-health-insurance-appoints-prasun-sikdar-managing-director-and-chief-executive-officer#commentsYES BANK awarded ‘Golden Peacock National Training Award’ 2018 in Dubaihttp://thepurenews.com/n/yes-bank-awarded-%E2%80%98golden-peacock-national-training-award%E2%80%99-2018-dubai
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>April 18, 2018: YES BANK has been felicitated with the coveted ‘Golden Peacock National Training Award’ at the ‘28th World Congress on Leadership for Business Excellence &amp; Innovation’ &amp; Golden Peacock Awards, organized by Institute of Directors (IOD) in Dubai. YES BANK was recognized for Best Practices in institutionalizing innovative Training programs aimed at equipping the workforce with ‘Future-Ready’ skills. The Award was presented by H.E. Mr Vipul (Consul General of India in Dubai), Dr. Tayab Kamali (Chairman IOD India UAE Chapter Director General Education and Training Development Ministry of Interior USE) and Lt. Gen. J.S Ahluwalia (President, Institute of Directors India).</p>
<p>The Golden Peacock National Training Award evaluates applications basis organizational needs, training objectives, training design, delivery, outcomes and eventually organisational benefits. Golden Peacock Awards Framework is designed to help explore organizational beliefs and strategy, to look for linkages and measurable activity to test results for long-term success. The Framework is based on IOD Business Excellence Model and is comparable with similar frameworks around the globe (including the Baldrige and European models) and contains all of the requirements of the ISO 9001:2000 standard series.</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Commenting on this achievement, Deodutta Kurane, Group President, Human Capital Management at YES BANK said, “With the onset of an ever-changing, fast-paced and tech-focused work environment, it has become increasingly critical to empower, stimulate and action employees with latest tech and non-tech skills to create a workforce that is ‘Future-Ready’. The award is a testament of YES BANK’s relentless efforts to proactively develop and implement new-age sustainable talent development programs via interactive training sessions and workshops, aimed at accelerating a Future Ready work environment.”</p>
<p>YES BANK focuses on building a high quality robust Human Capital talent pool by adopting a Knowledge &amp; hands-on Training driven approach for giving the bank a sustained competitive advantage. Training initiatives such as YES D.I.C.E Workshop (Design Thinking, Innovation, Creativity led Entrepreneurship) for senior leaders aimed at reinforce and reiterate the value addition of DICE; Mobile Gamification learning modules; Professional Certifications for workforce across business units; Role based certifications and most importantly ‘Future-Ready’ skilling initiatives including new-age tech skills that let employees skill-up at an organizational level.</p>
<p>YES SCHOOL OF BANKING (YSB), the Learning &amp; Development function of YES BANK, ensures conceptualization and deployment of learning solutions that meet business, employee and customer requirements through continued improvement in employee skillset, tech and service quality. Key Human Capital, Organizational Development and Learning initiatives at YES BANK are domiciled under the aegis of YES SCHOOL OF BANKING (YSB), institutionalized in 2007 with a vision to build the Capacity, Capability and Confidence of our Human Capital for making YES BANK the 'Finest Quality Large Bank in India by 2020'.</p>
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</ul>Wed, 18 Apr 2018 14:31:54 +0000chandu139 at http://thepurenews.comhttp://thepurenews.com/n/yes-bank-awarded-%E2%80%98golden-peacock-national-training-award%E2%80%99-2018-dubai#commentsFisdom in partnership with Lakshmi Vilas Bank launches digital NPS (National Pension Scheme) Investmentshttp://thepurenews.com/n/fisdom-partnership-lakshmi-vilas-bank-launches-digital-nps-national-pension-scheme-investments
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>Chennai – March 20, 2018 – Fisdom and Lakshmi Vilas Bank have partnered to enable investments in NPS (National Pension Scheme) in a completely digital and paperless manner. With this launch Fisdom is the first Fintech company to provide NPS digitally. This service has been made available on the Fisdom mobile app and Lakshmi Vilas Bank (LVB) will be the Point of Presence for the NPS service.</p>
<p>Using the fisdom app, any registered user can invest in NPS within couple of minutes without any paperwork; the user can choose the risk profile and fund they want to invest in. After investments, the user can also track the value of their NPS portfolio on the app.</p>
<p>LVB is lining up an array of services as a part of its digital focus. This association with Fisdom will help the customers plan their finances in a better way. Using this application, the customer will be able to plan their investments under the pension scheme in accordance with their goals. The Fisdom app includes services like getting the KYC done, investing money in various instruments like mutual funds and pension funds, viewing account summary, withdrawing invested money among many other services.</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Mr. P Mukherjee, MD &amp; CEO, Lakshmi Vilas Bank said, “It is our continuing endeavor to bring more financial products digitally; through our fintech partner Fisdom, we are glad to bring NPS for everyone and to encourage them to invest smarter. This association will be part of our broader focus on diversifying and offering products and services in the banking and financial space”</p>
<p>Mr. Peeush Jain, Head of Transformation and Partnerships, Lakshmi Vilas Bank added, “Going digital is the way to the future; and with this partnership with Fisdom we will be able to offer more services to all the customers digitally”</p>
<p>Mr. Subramanya SV, CEO and Co-founder of Fisdom stated, “We are delighted to partner with Lakshmi Vilas Bank to bring NPS to customers across the country. This new feature of investing in NPS through the Fisdom app, would help everyone make smart pension related investments for their future in a hassle free way. </p>
</div></div></div><div class="field field-name-field-body-2 field-type-text-long field-label-above"><div class="field-label">paragraph 3:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Fisdom is a Bangalore based startup that uses cutting edge technology to solve inherent issues with financial investments by making investing easy to understand, quick and highly accessible through a mobile and web app.</p>
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</ul>Tue, 20 Mar 2018 11:28:10 +0000chandu120 at http://thepurenews.comhttp://thepurenews.com/n/fisdom-partnership-lakshmi-vilas-bank-launches-digital-nps-national-pension-scheme-investments#commentsICICI Securities Limited: Initial Public Offer to open on March 22, 2018http://thepurenews.com/n/icici-securities-limited-initial-public-offer-open-march-22-2018
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>Bangalore, March 19, 2018: ICICI Securities Limited (the “Company” or the “Issuer”) proposes to open on Thursday, March 22, 2018, an initial public offering of 77,249,508 Equity Shares of face value of Rs. 5 each for cash at a Price including a Share Premium (the “Offer”) through an Offer for Sale of up to 77,249,508 Equity Shares by ICICI Bank Limited (the “Promoter Selling Shareholder”), including a reservation of up to 3,862,475 Equity Shares for purchase by the ICICI Bank Shareholders for cash at a Price including a Share Premium (“ICICI Bank Shareholders’ Reservation Portion”). The Offer would constitute 23.98% of the Post-Offer Paid-Up Equity Share Capital and the Net Offer (the Offer excluding “ICICI Bank Shareholders’ Reservation Portion”) shall constitute 22.78% of the Post-Offer paid-up Equity Share Capital.</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>The Price Band has been fixed from Rs. 519 to Rs. 520 per Equity Share. Bids can be made for a minimum lot of 28 Equity Shares and in multiples of 28 Equity Shares thereafter.</p>
<p>The Bid/Offer Period will close on Monday, March 26, 2018. The Promoter Selling Shareholder, in consultation with the Lead Managers, is considering participation by Anchor Investors in accordance with the the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Issue Opening Date, being March 21, 2018.</p>
<p>The Equity Shares being offered through the Red Herring Prospectus dated March 13, 2018 (the “RHP”) are proposed to be listed on BSE and NSE.</p>
<p>The Book Running Lead Managers (“BRLMs” or “Lead Managers”) to the Offer are DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited and SBI Capital Markets Limited. ICICI Securities Limited is acting as the BRLM – Marketing to the Offer.*</p>
</div></div></div><div class="field field-name-field-body-2 field-type-text-long field-label-above"><div class="field-label">paragraph 3:&nbsp;</div><div class="field-items"><div class="field-item even"><p>The Promoter Selling Shareholder may, in consultation with the Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Allocation Price, on a discretionary basis, out of which at least one-third shall be available for allocation to domestic Mutual Funds only. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process.</p>
<p>* In compliance with the proviso to Regulation 21A(1) of the SEBI Merchant Bankers Regulations, read with the proviso to Regulation 5(3) of the SEBI ICDR Regulations, ICICI Securities Limited will be involved only in marketing of the Offer as the BRLM-Marketing. For details on the manner in which conflicts, if any, are proposed to be addressed, please see the section entitled “Other Regulatory and Statutory Disclosures - Disclosure in respect of our Company acting as the BRLM-Marketing for the Offer” on page 380 of the RHP.</p>
<p>Disclaimer: ICICI Securities Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a red herring prospectus (“RHP”) with the Registrar of Companies, Maharashtra at Mumbai. The RHP is available on the website of the SEBI at <a href="http://www.sebi.gov.in">www.sebi.gov.in</a> as well as on the websites of the lead managers, DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, CLSA India Private Limited, Edelweiss Financial Services Limited, IIFL Holdings Limited, and SBI Capital Markets Limited at <a href="http://www.ml-india.com">www.ml-india.com</a>, <a href="http://www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm">www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm</a>, <a href="http://www.india.clsa.com">www.india.clsa.com</a>, <a href="http://www.edelweissfin.com">www.edelweissfin.com</a>, <a href="http://www.iiflcap.com">www.iiflcap.com</a>, and <a href="http://www.sbicaps.com">www.sbicaps.com</a> respectively and on the website of ICICI Securities Limited (in its capacity as BRLM-Marketing) at <a href="http://www.icicisecurities.com">www.icicisecurities.com</a>. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section entitled Risk Factors on page 16 of the RHP.</p>
<p>This announcement is not an offer of securities for sale in the United States. Any securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or any United States state securities laws, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable United States state securities laws. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States</p>
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</ul>Mon, 19 Mar 2018 10:24:52 +0000chandu117 at http://thepurenews.comhttp://thepurenews.com/n/icici-securities-limited-initial-public-offer-open-march-22-2018#commentsBandhan Bank IPO to open on March 15, 2018http://thepurenews.com/n/bandhan-bank-ipo-open-march-15-2018
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>Mumbai, March 8, 2018: Bandhan Bank Limited (the “Company” or the “Issuer”) proposes to open on Thursday, March 15, 2018, an initial public offering of up to 119, 280,494 Equity Shares (the “Offer”), consisting of a Fresh Issue of up to 97,663,910 Equity Shares and an Offer For Sale of up to 14,050,780 Equity Shares by IFC and up to 7,565,804 Equity Shares by IFC FIG (collectively, the “Selling Shareholders” and such Equity Shares offered by the Selling Shareholders, the “Offered Shares”) (“Offer For Sale”).</p>
<p>The Bid/Issue Period closes on Monday, March 19, 2018.</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>The Price Band for the Offer is fixed from Rs. 370 to Rs. 375 per Equity Share. Bids can be made for a minimum lot of 40 Equity Shares and in multiples of 40 Equity Shares thereafter.<br />
The Equity Shares are being offered through the Red Herring Prospectus dated March 7, 2018 (the “RHP”). The Equity Shares are proposed to be listed on BSE and NSE.<br />
The Book Running Lead Managers (“BRLMs”) to the Offer are Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, JM Financial Limited and J.P. Morgan India Private Limited. Karvy Computershare Private Limited is the registrar to the issue.</p>
</div></div></div><div class="field field-name-field-body-2 field-type-text-long field-label-above"><div class="field-label">paragraph 3:&nbsp;</div><div class="field-items"><div class="field-item even"><p>The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”), wherein at least 10% of the post-Offer Equity Share capital of the Company will be offered to the public. The Issue is being made through the Book Building Process in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (“SEBI ICDR Regulations”), wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIB Portion”). 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Net Offer shall be available for allocation on proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders shall participate in the Offer mandatorily through the Applications Supported by Blocked Amount (“ASBA”) process by providing the details of their respective ASBA Accounts in which the corresponding Bid Amount will be blocked by the SCSBs.</p>
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</ul>Wed, 14 Mar 2018 10:32:16 +0000chandu97 at http://thepurenews.comhttp://thepurenews.com/n/bandhan-bank-ipo-open-march-15-2018#commentsAxis Bank's mobile banking spends touched Rs. 51,030 cr in Q3FY18http://thepurenews.com/n/axis-bank-s-mobile-banking-spends-touched-rs-51030-cr-q3fy18
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>Bengaluru, March 13, 2018: Axis Bank's mobile banking spends touched Rs. 51,030 cr in Q3FY18, increasing 71% YoY, thereby reinforcing the Bank's commitment to accelerate the ‘Digital India’ agenda. Equally compelling is to note that over 66% of the Bank’s transactions were made through ‘digital modes’ in Q3FY18 as against 52% in Q1FY17. </p>
<p>The Bank’s focus on cards, both credit and debit, also continues to remain high with Axis continuing to be the market leader in installing ‘card-acceptance terminals’ – as of Q3FY18, the number stood upwards of 479,200. Also, Axis Bank continues to invest in newer cashless and digital payment methods, which would help get a larger population to embrace digital payments. AxisPay UPI has also witnessed over 10.4 million registrations since its launch accounting for over 65 lakh Virtual Payment Addresses (VPAs).</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Speaking at the press meet, Rajiv Anand, Executive Director – Retail Banking, Axis Bank, said, “The Government’s focus on making the country embrace digital payments has been relentless. With digital transactions touching the Rs. 1 billion mark in December last year, we at Axis Bank truly believe that the adoption of digital transactions has gained momentum, thanks to the multiple initiatives taken by the centre. ‘Payments’ has always been at the core of Axis Bank’s business priorities and it is heartening to note that consumers continue to embrace the various digital modes of payment. We have always taken the lead in helping the customers in their ‘digital journey’ through our sustained commitment towards safe, convenient and innovative digital channels.”</p>
<p>As per data released by the Reserve Bank of India, in January this year, banking transactions through digital mode rose 6.57% to Rs. 1.06 billion in December from Rs. 998.5 million in November. This was the first time that the transaction volume crossed the Rs. 1 billion mark. The overall value of these transactions was also the second highest in a month in the last one year. Transaction worth about Rs. 125.51 trillion were carried out in December through credit and debit cards, the unified payments interface (UPI), unstructured supplementary service data (USSD), prepaid payment instruments (PPIs) and internet banking.</p>
</div></div></div><div class="field field-name-field-body-2 field-type-text-long field-label-above"><div class="field-label">paragraph 3:&nbsp;</div><div class="field-items"><div class="field-item even"><p>In May 2017, Axis Bank launched Axis OK - a lite, secure and easy-to-use multilingual mobile app to empower users with basic feature phones to access basic banking digitally, without heavy data consumption. The app, which is under 900 kb in size, is one of the lightest banking applications with an aim to offer digital banking services to a large number of customers.</p>
<p>Axis Bank's commitment towards providing a congenial environment for the startup community has been exemplified through its ‘Thought Factory’ located in Bengaluru. This is a one-of-its-kind innovation lab which empowers and provides a platform for startups to expand and create avenues with investors and companies.</p>
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</ul>Tue, 13 Mar 2018 13:45:15 +0000chandu95 at http://thepurenews.comhttp://thepurenews.com/n/axis-bank-s-mobile-banking-spends-touched-rs-51030-cr-q3fy18#commentsVijaya Bank had organized its Extraordinary General Meeting for approval of capital infusion to our Bankhttp://thepurenews.com/n/vijaya-bank-had-organized-its-extraordinary-general-meeting-approval-capital-infusion-our-bank
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>Bangalore on 09.03.2018.:An Extraordinary General Meeting of the Shareholders of Vijaya Bank was held on 9th Mar 2018 at 10.00 am at Mulki Sunder Ram Shetty Auditorium at Vijaya Bank, Head Office, Bangalore. The Shareholders in the Extraordinary General Meeting have passed the resolution to create, offer, issue and allot 19,42,79,628 Equity Shares of the Bank of face value of Rs. 10/- (Rupees Ten only) each for cash at a premium of Rs. 55.73 (Rupees Fifty Five and Paisa Seventy Three Only) per Equity Share, i.e. issue price of Rs. 65.73 (Rupees Sixty Five and Paisa Seventy Three Only) aggregating upto Rs. 1277 crore (Rupees One Thousand Two Hundred Seventy Seven Crore only) by way of Preferential Issue to the promoters of the Bank i.e. the Government of India.</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>Subsequent to the allotment the equity shareholding of Government of India will be increased from 63.29% to 68.77% and there will not be any change in the management / control on the Bank as a result of the preferential allotment.</p>
<p>Speaking to the shareholders on the occasion, Shri G Narayanan, Chairman, Vijaya Bank said that, in order to achieve a sustainable growth in its assets and maintaining robust CRAR, need was felt for augmenting capital. He added the growth capital raised would be utilized to improve the Capital Adequacy and to fund general business needs of the Bank. CRAR will improve from 12.26% to around 14%.</p>
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</ul>Sat, 10 Mar 2018 13:38:27 +0000chandu91 at http://thepurenews.comhttp://thepurenews.com/n/vijaya-bank-had-organized-its-extraordinary-general-meeting-approval-capital-infusion-our-bank#commentsPaisalo Enables MSME Segment with Easy Loans for Small Businesses and Individualshttp://thepurenews.com/n/paisalo-enables-msme-segment-easy-loans-small-businesses-and-individuals
<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p>Mumbai, Wednesday, January 30, 2018: Paisalo Digital Limited, formerly known as S. E. Investments Limited is a leading Systemically Important Non-Deposit taking NBFC registered with the Reserve Bank of India, in operation since 1992. With a vision of empowering the MSME segment and small businesses, the company, today launched their app with the same name to accelerate and facilitate 100% digital loan disbursal, creating unique customer experience. Introducing a complete digital experience, especially for traditional small entrepreneurs, the loan ticket is designed at Rs. 10,000 to Rs. 50,000. The loan repayment tenure is 1,3,6,12,18 and 24 months. The company expects to disburse 30,000 loan applications in FY19 through the Paisalo app itself.</p>
</div></div></div><div class="field field-name-field-category field-type-taxonomy-term-reference field-label-inline clearfix"><h3 class="field-label">Category: </h3><ul class="links inline"><li class="taxonomy-term-reference-0"><a href="/home-menu/banking" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">banking</a></li></ul></div><div class="field field-name-field-body-1 field-type-text-long field-label-above"><div class="field-label">paragraph 2:&nbsp;</div><div class="field-items"><div class="field-item even"><p>The company has a loan book of over Rs. 1,262 crores with a net worth of Rs. 553 crores and a CAR of 38.08% as of FY17. It has nearly 90,000 live borrowers and a total customer base of over 7 lakh borrowers. Other than the 49 branches, the company serves customers at 300 small locations, serviced by a field staff of over 700 people. With business operations in Uttar Pradesh, Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, Delhi and Haryana, the company has also created over 22600 Self Help Groups (SHGs) in both urban and rural areas. The company enjoys basel rating by India Ratings (Fitch) as ‘A-‘.</p>
<p>The Paisalo brand name has been chosen with thoughtful consideration to reflect the true essence of the change in the company’s new digital business approach so as to create a seamless and hassle- free experience for customers. The name not only defines the business of the company but also resonates with the simplicity of the lending process.</p>
</div></div></div><div class="field field-name-field-body-2 field-type-text-long field-label-above"><div class="field-label">paragraph 3:&nbsp;</div><div class="field-items"><div class="field-item even"><p>The Paisalo app (Available on Google and Apple Store -- Links to download) has been built to provide easy loans that are accessible to individuals in need of immediate loans. Completely designed in-house, the app enables an individual to borrow money up to Rs. 50,000 using their mobile without any human interference. This effectively targets peripheral industry problems such as corruption, inflated interest rates from local moneylenders and excessive compliance. A customer contact centre will further amplify the user experience, by addressing any need for assistance. By leveraging technology and harnessing the power of machine learning the company aims to adopt 100% end-to-end mobility for the entire spectrum of operations in areas such as loan origination, loan management, and repayments.</p>
<p>Commenting on the initiative, Mr. Sunil Agarwal, Managing Director at Paisalo Digital Limited said, “The Paisalo app intends to enable customers to reach us with ease and ensuring smooth loan disbursal and repayment. With a vision of enabling economic growth and progress from the bottom up, we aim at partnering with small business owners in their growth journey and help them contribute to maximum job creation. With careful research and our experience of 26 years in the industry, we were able to identify key issues in the MSME space and our loan ticket and tenure are designed to address the needs of this special segment for their working capital and other financial requirements.”</p>
<p>Adding to the conversation, Shantanu Agarwal, Chief Innovation Officer says, “We at Paisalo, acknowledge the constructive disruption technology has brought in the lending space and we are committed to leveraging it so as to reach maximum end users with minimum cost, a benefit that we can pass on to them.”</p>
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</ul>Tue, 30 Jan 2018 07:16:39 +0000chandu47 at http://thepurenews.comhttp://thepurenews.com/n/paisalo-enables-msme-segment-easy-loans-small-businesses-and-individuals#commentsWarning: Cannot modify header information - headers already sent by (output started at /home/content/94/9400094/html/thepurenews/includes/common.inc:2776) in /home/content/94/9400094/html/thepurenews/includes/bootstrap.inc on line 1486Error | The Pue News